CNB Bank Boosts Stock Position in United Rentals, Inc. (NYSE:URI)

CNB Bank boosted its holdings in United Rentals, Inc. (NYSE:URI) by 99.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 520 shares of the construction company’s stock after purchasing an additional 259 shares during the period. CNB Bank’s holdings in United Rentals were worth $298,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of URI. AdvisorNet Financial Inc raised its stake in shares of United Rentals by 71.4% during the 4th quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock valued at $28,000 after purchasing an additional 20 shares during the period. OFI Invest Asset Management bought a new position in United Rentals in the 3rd quarter worth about $25,000. NBC Securities Inc. bought a new position in United Rentals in the 3rd quarter worth about $29,000. Arlington Trust Co LLC increased its stake in United Rentals by 50.0% in the 4th quarter. Arlington Trust Co LLC now owns 84 shares of the construction company’s stock worth $48,000 after acquiring an additional 28 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in United Rentals in the 3rd quarter worth about $40,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insider Transactions at United Rentals

In other news, CFO William E. Grace sold 775 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total value of $508,105.50. Following the completion of the transaction, the chief financial officer now owns 6,323 shares of the company’s stock, valued at approximately $4,145,485.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

United Rentals Trading Down 0.7 %

NYSE URI traded down $4.54 on Friday, hitting $628.34. The company’s stock had a trading volume of 572,680 shares, compared to its average volume of 458,523. United Rentals, Inc. has a 52-week low of $325.15 and a 52-week high of $732.37. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. The company’s 50-day simple moving average is $679.93 and its 200 day simple moving average is $570.39. The firm has a market cap of $42.21 billion, a P/E ratio of 17.77, a PEG ratio of 2.19 and a beta of 1.84.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, January 24th. The construction company reported $11.26 earnings per share for the quarter, topping the consensus estimate of $10.85 by $0.41. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.63 billion. During the same quarter last year, the business posted $9.74 EPS. The business’s revenue was up 13.1% on a year-over-year basis. Research analysts predict that United Rentals, Inc. will post 43.13 EPS for the current fiscal year.

United Rentals declared that its Board of Directors has initiated a stock repurchase program on Wednesday, January 24th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to buy up to 3.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

United Rentals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were given a $1.63 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $6.52 annualized dividend and a dividend yield of 1.04%. This is a positive change from United Rentals’s previous quarterly dividend of $1.48. United Rentals’s dividend payout ratio is currently 18.44%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on URI. The Goldman Sachs Group upped their target price on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday. Robert W. Baird upped their price objective on United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a report on Friday, January 26th. Morgan Stanley began coverage on United Rentals in a report on Monday, January 8th. They issued an “equal weight” rating and a $500.00 price objective for the company. BNP Paribas reiterated an “underperform” rating and issued a $485.00 price objective on shares of United Rentals in a report on Friday, January 5th. Finally, Evercore ISI upped their price objective on United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $589.21.

About United Rentals

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.